Business
EXL recognized as ‘Luminary’ in Celent New Business and Underwriting Systems: Global Life Insurance Edition report
EXL Life Digital Suite earns top honors in annual evaluation of life insurance digital transformation partners NEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) -- EXL
About this update from Exlservice Holdings, Inc.
[{"type":"text","content":"EXL Life Digital Suite earns top honors in annual evaluation of life insurance digital transformation partners\nNEW YORK, Jan. 17, 2023 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, announced it has been recognized as a “Luminary” in the Celent New Business and Underwriting Systems: Global Life Insurance Edition report. Earning a luminary rating in Celent’s bi-annual evaluation of new business and underwriting solutions outside of North America, EXL’s Life Digital Suite excels on both advanced technology and breadth of functionality, according to the report. The Celent report evaluated 15 different technology platforms supporting the automation and digitization of the new business and underwriting processes to lower operating costs and improve the customer experience. Focused on new business and underwriting systems currently offered in Europe, the Middle East, and Africa, Latin America, and Asia Pacific regions, the Celent evaluation is based on detailed analysis of product offerings and capabilities along with client references and surveys. “A perfect storm of a pandemic, a volatile economic climate, and strained profitability has forced life insurers to find ways to streamline and automate their new business and underwriting systems without compromising on customer experience,” said Karen Monks, senior insurance analyst, Celent. “Data-driven, automated underwriting can have a large impact on digital transformation in the life insurance industry. The EXL platform’s technology and functionality stands out for its ease of use, modern look, and ability to support direct-to-consumer or in-house underwriting, which is key to digital transformation in life insurance distribution.” EXL’s Life Digital Suite is a comprehensive digital platform that automates the entire new business and underwriting process from receipt of insurance application through policy issue. Fully interoperable with existing client technologies and pricing systems, the cloud-based solution is built a with simple no code configuration and includes pre-built product templates supporting fully customized agent landing and quote pages, personalized quotes and detailed management dashboards. “Our data-led approach to digital transformation is unique in the life insurance industry. We take into account t...